Success Payment. If the Company achieves a minimum of $32 million of net sales for any quarter in calendar year 2003 (the first such quarter, the "Bonus Quarter"), then the Company shall pay to Executive within 4 weeks of the end of such quarter an amount equal to the sum of (a) the second half of the 2002 Bonus, $150,729.50 (the "Second Half Bonus") and (b) an amount equal to one quarter of the 2002 Bonus, $75,364.75 (in the aggregate, the "Success Bonus Payment"). Subject to Section 1.3, if the Company never achieves a minimum of $32 million of net sales for any quarter in 2003, then the Second Half Bonus shall be forever forfeited by Executive and the Company shall have no obligation to pay the Second Half Bonus. The Success Bonus Payment shall be made even if Executive is not employed with the Company at the time of the payment so long as Executive had been employed with the Company during the whole Bonus Quarter.
Success Payment. UNIVERSITY shall receive a success payment (“SUCCESS PAYMENT”) in the event of a CHANGE OF CONTROL TRANSACTION in accordance with this Article 5.1(1). The amount of the SUCCESS PAYMENT shall be equal to the product of (i) the Applicable Percentage set forth in the table below opposite the calendar year in which the closing of the CHANGE OF CONTROL TRANSACTION occurs multiplied by (ii) the NET EQUITY RETURN. Calendar Year Applicable Percentage 2010 [****]% 2011 [****]% 2012 [****]% 2013 [****]% 2014 [****]% 2015 and thereafter [****]%
Success Payment. UNIVERSITY shall receive a success payment (“SUCCESS PAYMENT”) in the event of a CHANGE OF CONTROL TRANSACTION in accordance with this Article 5.1(1). The amount of the SUCCESS PAYMENT shall be equal to the product of (i) the Applicable Percentage set forth in the table below opposite the calendar year in which the closing of the CHANGE OF CONTROL TRANSACTION occurs multiplied by (ii) the NET EQUITY RETURN. Calendar Year Applicable Percentage 2010 7.0% 2011 5.0% 2012 3.0% 2013 2.0% 2014 1.0% 2015 and thereafter 0.0%
Success Payment. Provided the Executive is employed by the Company on the Restructuring Date, the Executive shall be entitled to receive, promptly, not later than ten business days following the Restructuring Date, a lump sum cash payment of five hundred thousand dollars ($500,000.00)
Success Payment. Upon the occurrence of a Corporate Transaction, the Executive will be entitled, provided that the Executive is currently employed by the Company on the date of such occurrence (unless otherwise provided under Section 6), to receive from the Company, as additional compensation, a transaction success payment (the “Success Payment”), as follows:
Success Payment. The Executive shall be entitled to receive an incentive payment with respect to the Emergence (such payment, the "Success Payment"). The amount of the Success Payment and any other terms and conditions applicable thereto shall be determined in connection with the process during which the Company's plan of reorganization is developed and finalized.
Success Payment. If the Steering Committee determines that ArQule met its quarterly Production Goals for the two years following the Effective Date, Pfizer shall pay to ArQule an additional amount of up to * dollars ($*) in quarterly installments (each a "Success Payment") as set forth in Exhibit E. Each Success Payment will be paid quarterly as follows: (i) if fewer than *. Notwithstanding the foregoing, ArQule may cure any shortfalls in achieving the Production Goals for any Calendar Quarter in the next Calendar Quarter. To the extent *.
Success Payment. Subject to the provisions of Section 9 hereof, if the Restructuring Date shall occur on or prior to April 30, 2004, the Chairman shall be entitled to receive, promptly but in no event later than five days following the Restructuring Date, a cash lump sum payment (the "Success Payment"). If the Restructuring Date occurs on or prior to July 31, 2003, the Success Payment shall be $4,000,000; if the Restructuring Date occurs following July 31, 2003, the amount of the Success Payment shall decrease by $7,299 on a daily basis thereafter, commencing on August 1, 2003. If the Restructuring Date occurs following April 30, 2004, no Success Payment will be made.
Success Payment. Commencing not later than 45 days after the date of this Agreement, Company and Executive agree to negotiate in good faith to establish mutually agreeable arrangements for payment to Executive (whether in cash, stock of the Company, stock options, phantom stock, or some other form) of incentive compensation based upon mutually agreed performance criteria and goals, and to agree upon that arrangement within 90 days of the date of this Agreement or such additional time as may be mutually agreed upon.
Success Payment. SMTC will provide Woodbro with a success payment of US $100,000.00, provided that there is a successful closing of a sale, merger, or substantial bank refinancing or restructuring transaction (“Transaction”) by June 30, 2004, and provided also that you continue to provide your service to SMTC up to and including March 31, 2004. In the event you resign or your employment is terminated with cause, prior to March 31, 2004, you will not be entitled to receive this retention payment. In the event your employment is terminated without cause at any time during the Refinancing Period, and there is a successful closing of the Transaction, you will be entitled to receive this success payment, which will be payable to you on the later of five (5) days after the closing of the Transaction, or March 31, 2004.
